- 2 October 2016
History Repeats Itself!
Japan, overnight on 21st September, kept its interest rate at a negative 0.1% and to stimulate the economy expanded its money supply to 100% of GDP. The US and Europe are at 20%. In comparison in Australia, our RBA has a high rate of +1.5% and is wondering why our Australian dollar is climbing and our tourism and income from exports falling.
At the same time that Japan is trying to expand its economy, in Australia, since 2009, small business and consumers have been in a credit squeeze as per the chart we showed last week. It is worthwhile showing it again.
No wonder Turnbull won by only one seat. At a similar time that there was a Federal election in a credit squeeze, which was 1961, again the Government held on with just one seat.
History repeats itself!
Regards,
Kevin Young
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